Emerson Electric (EMR)财务
NYSE · Industrials · Industrial - Machinery · 员工71,000人 · CEO Surendralal Lanca Karsanbhai
- 股价
- $164.82 -3.47%
- 市值
- $919亿
- 企业价值
- $1040亿
- 最近财报
- Q3 '26 2026-08-04提交
- 下次财报
- 2026-11-04 EPS预期 $1.85
营收(TTM)$186亿+4.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)20.1%+1.3 百分点 对比去年同期营业利润 $37.5亿
净利润(TTM)$25.8亿-2.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$34.6亿+26.2% 对比去年同期资本支出 $4.52亿
稀释EPS(TTM)$4.57-1.8% 对比去年同期最近4个季度之和
净现金-$116亿+8.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $919亿 EV $1040亿
- 营收
- $186亿 过去12个月
- 营收增速
- +5% FY2026年一致预期
- 净利润率
- 13.8% 净利润 / 营收,TTM
- P/E
- 35.9× 预期 25.1×(FY2026)
- P/S
- 4.9× 股价 / 营收,TTM
- EV / EBITDA
- 19.5× TTM
- 自由现金流
- $34.6亿 过去12个月
- 净利润
- $25.8亿 过去12个月
- 营收预期
- $189亿 FY2026年一致预期
- 盈利
- 2026-11-04 营收预期 $51.1亿
- 股息
- $2.22 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期1.4%,EPS 超预期1.8%营收$48.7亿,预期$48亿(+1.4%);EPS $1.71,预期$1.68(+1.8%)。
- 营收增长加速:同比7.0%Q3 '26营收$48.7亿,此前四个季度的平均值为4.0%。
- 营业利润率20.1%(TTM),较去年同期+1.3 百分点营收增长4.8%,营业利润增长12.2%。
- 税前利润的14.3%被营业外亏损吞噬税前利润$32.8亿,营业利润$37.5亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.4%(去年为2.4%)最近4个季度投入$4.52亿(同比+4.9%)。自由现金流$34.6亿,相当于净利润的134.3%。
- 股东回报$22.3亿 = 自由现金流的64.3%回购$9.94亿(去年为$14.3亿),股息$12.3亿,股权激励$2.46亿(TTM)。
- 稀释股数一年内减少0.6%Q3 '26稀释股数5.61亿,一年前为5.65亿。
- 净债务 $116亿现金 + 短期投资 $21.8亿,含租赁债务 $138亿;一年前净债务 $127亿。
上一季度:Q3 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $48.7亿 | $45.5亿 | +7.0% |
| 毛利率 | 54.5% | 52.6% | +1.9 百分点 |
| 营业利润 | $10亿 | $9.08亿 | +10.2% |
| 营业利润率 | 20.5% | 19.9% | +0.6 百分点 |
| 净利润 | $7.18亿 | $5.86亿 | +22.5% |
| 稀释EPS | $1.28 | $1.04 | +23.1% |
| 经营现金流 | $14.2亿 | $10.7亿 | +33.1% |
| 资本支出 | $1.02亿 | $9300万 | +9.7% |
| 自由现金流 | $13.2亿 | $9.77亿 | +35.3% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $6800万 | $7100万 | -4.2% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $48.7亿 | $48亿 | +1.4% |
| EPS(一致预期口径) | $1.71 | $1.68 | +1.8% |
来自2026-08-04发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Intelligent Devices | $26.8亿 | -14.3% | 54.9% | $110亿 | -10.6% | |
| Software And Systems | $16.4亿 | – | 33.7% | – | – | |
| Software and Control | – | – | – | – | – | |
| Final Control | $5.52亿 | – | 11.3% | – | – | |
| Safety and Productivity | – | – | – | – | – | |
| Safety And Productivity | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $25.4亿 | +7.6% | 52.1% | $95.7亿 | +5.6% | |
| Asia, Middle East & Africa | $14.8亿 | +8.8% | 30.3% | $55.3亿 | +2.0% | |
| Europe | $8.61亿 | +0.6% | 17.7% | $35.6亿 | +5.9% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $39.1亿
- 资本支出
- -$4.52亿
- 股票回购
- -$9.94亿
- 股息
- -$12.3亿
- 收购
- -$100万
- 债务净发行
- -$25.5亿
- 股权激励费用
- $2.46亿
- 自由现金流
- $34.6亿
- 股东回报 / FCF
- 64.3%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 35.9× | 26.0× | 15.8× – 32.2× |
| EV / EBITDA | 19.5× | 17.1× | 13.3× – 22.8× |
| EV / 营收 | 5.6× | 4.2× | 3.7× – 4.8× |
| 股价 / FCF | 26.6× | 57.7× | 18.2× – 202.4× |
| 股价 / 净资产 | 4.5× | 3.8× | 2.7× – 5.7× |
| FCF收益率 | 3.8% | 3.9% | 0.5% – 5.5% |
| 投入资本回报率 | 7.9% | 6.5% | 5.4% – 8.1% |
| 净资产收益率 | 12.7% | 27.8% | 9.1% – 63.9% |
分析师
一致目标价 $167.18 (+1.4%)
区间 $135.00 – $186.00 · 评级 Buy
强烈买入0
买入23
持有17
卖出3
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $189亿 | +4.8% | $6.57 | +62.5% | 25.1× | 16 |
| FY2027 | $199亿 | +5.6% | $7.29 | +11.0% | 22.6× | 17 |
| FY2028 | $210亿 | +5.5% | $8.08 | +10.8% | 20.4× | 9 |
| FY2029 | $223亿 | +6.1% | $8.93 | +10.5% | 18.5× | 3 |
| FY2030 | $230亿 | +2.9% | $9.31 | +4.3% | 17.7× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Emerson Electric Co.在近期10-Q / 10-K文件中标记的全部244项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $16.1亿 | $12.7亿 | +26.8% | $13.8亿 | $13.4亿 | +3.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $30.6亿 | $29.1亿 | +5.1% | $31亿 | $29.3亿 | +5.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.3亿 | $1.25亿 | +4.0% | $1.23亿 | $1.21亿 | +1.7% |
| Accrued Income Taxes, Current | $6900万 | $1.26亿 | -45.2% | $1.3亿 | $5.87亿 | -77.9% |
| Accrued Liabilities, Current | $35.7亿 | $35.1亿 | +1.9% | $36.2亿 | $38.8亿 | -6.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $36.9亿 | $34.8亿 | +5.9% | $35.4亿 | $33.8亿 | +4.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$8.95亿 | -$8.5亿 | -5.3% | -$8.21亿 | -$8.68亿 | +5.4% |
| Additional Paid in Capital | $1.11亿 | $2800万 | +296.4% | $8500万 | $1.69亿 | -49.7% |
| Amortization of Acquisition Costs | $02025-09-30 | $0 | – | $0 | $2.31亿 | -100.0% |
| Amortization of Intangible Assets | – | – | – | $11.7亿 | $13.7亿 | -14.1% |
| Assets | $422亿 | $425亿 | -0.7% | $420亿 | $442亿 | -5.2% |
| Assets for Plan Benefits, Defined Benefit Plan | $12.8亿 | $12.6亿 | +2.0% | $12.3亿 | $11.9亿 | +2.9% |
| Assets, Current | $96.6亿 | $90.7亿 | +6.4% | $85.8亿 | $102亿 | -15.8% |
| Assets, Noncurrent, Other than Noncurrent Investments and Property, Plant and Equipment | $297亿 | $307亿 | -3.1% | $305亿 | $312亿 | -2.4% |
| Buildings and Improvements, Gross | $21.3亿2025-09-30 | $20.5亿 | +3.9% | $21.3亿 | $20.5亿 | +3.9% |
| Business Acquisition, Goodwill, Expected Tax Deductible Amount | – | – | – | $1.21亿2023-10-11 | – | – |
| Business Combination, Acquisition Related Costs | $2200万 | $2500万 | -12.0% | $2.14亿 | $9600万 | +122.9% |
| Capitalized Computer Software, Amortization | $2800万 | $2200万 | +27.3% | $9100万 | $9200万 | -1.1% |
| Cash Provided by (Used in) Investing Activities, Discontinued Operations | $02025-09-30 | $34亿 | -100.0% | $0 | $34.4亿 | -100.0% |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations | $0 | $900万 | -100.0% | -$5.78亿 | $1500万 | -3,953.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $21.8亿 | $22.2亿 | -1.8% | $15.4亿 | $35.9亿 | -57.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $21.8亿 | $22.2亿 | -1.8% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $3.89亿 | $3.32亿 | +17.2% | -$20.4亿 | -$44.6亿 | +54.2% |
| Collateral Already Posted, Aggregate Fair Value | $0 | $0 | – | $0 | $0 | – |
| Commercial Paper | $41.9亿2025-09-30 | $0 | – | $41.9亿 | $0 | – |
| Commitments and Contingencies | $02025-09-30 | $0 | – | $0 | $0 | – |
| Common Stock, Capital Shares Reserved for Future Issuance | 2160万2025-09-30 | 2330万 | -7.3% | 2160万 | 2330万 | -7.3% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.56 | $0.53 | +5.2% | $2.11 | $2.10 | +0.5% |
| Common Stock, Par or Stated Value Per Share | $0.50 | $0.50 | 0.0% | $0.50 | $0.50 | 0.0% |
| Common Stock, Shares Authorized | 12亿 | 12亿 | 0.0% | 12亿 | 12亿 | 0.0% |
| Common Stock, Shares, Issued | 9.53亿 | 9.53亿 | 0.0% | 9.53亿 | 9.53亿 | 0.0% |
| Common Stock, Shares, Outstanding | 5.58亿 | 5.63亿 | -0.9% | 5.63亿 | 5.7亿 | -1.3% |
| Common Stock, Value, Issued | $4.77亿 | $4.77亿 | 0.0% | $4.77亿 | $4.77亿 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$100万 | $100万 | -200.0% | -$5100万 | -$900万 | -466.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.84亿 | $8.86亿 | -22.8% | $23.4亿 | $23.5亿 | -0.6% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $6.83亿 | $8.87亿 | -23.0% | $22.9亿 | $23.4亿 | -2.3% |
| Construction in Progress, Gross | $3.14亿2025-09-30 | $3.21亿 | -2.2% | $3.14亿 | $3.21亿 | -2.2% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $20.1亿 | $18亿 | +12.0% | $18.9亿 | $16亿 | +18.3% |
| Contract with Customer, Liability | $12.2亿 | $12.1亿 | +1.6% | $11.1亿 | $11.2亿 | -0.9% |
| Contract with Customer, Liability, Current | $11.3亿 | $11.3亿 | +0.4% | $10.3亿 | $10.4亿 | -1.2% |
| Contract with Customer, Liability, Revenue Recognized | $1.19亿 | $6500万 | +83.1% | $7.98亿 | $6.35亿 | +25.7% |
| Cost of Goods and Services Sold | $22.2亿 | $21.6亿 | +2.7% | $85亿 | $86.1亿 | -1.3% |
| Cost, Amortization | $4900万 | $5000万 | -2.0% | $1.99亿 | $1.97亿 | +1.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.63亿 | $3.25亿 | +42.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4.81亿 | $4.52亿 | +6.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5600万 | $3400万 | +64.7% |
| Debt and Equity Securities, Unrealized Gain (Loss) | – | – | – | $2400万2023-09-30 | -$5000万 | +148.0% |
| Debt, Current | $55.9亿 | $59.5亿 | -6.1% | $48亿 | $5.32亿 | +801.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$2.12亿 | -$2.84亿 | +25.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1.03亿 | -$9400万 | -9.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $1100万 | -$1800万 | +161.1% |
| Deferred Tax Assets, Deferred Income | $7800万 | $5500万 | +41.8% | $7900万 | $6400万 | +23.4% |
| Deferred Tax Assets, Gross | $8.09亿2025-09-30 | $7.46亿 | +8.4% | $8.09亿 | $7.46亿 | +8.4% |
| Deferred Tax Assets, Other | $2.49亿2025-09-30 | $1.76亿 | +41.5% | $2.49亿 | $1.76亿 | +41.5% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $1.22亿2025-09-30 | $1.21亿 | +0.8% | $1.22亿 | $1.21亿 | +0.8% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $1.49亿2025-09-30 | $1.49亿 | 0.0% | $1.49亿 | $1.49亿 | 0.0% |
| Deferred Tax Assets, Valuation Allowance | $2.51亿2025-09-30 | $2.56亿 | -2.0% | $2.51亿 | $2.56亿 | -2.0% |
| Deferred Tax Liabilities, Gross | $17亿 | $19.1亿 | -11.4% | $23亿 | $25.6亿 | -10.3% |
| Deferred Tax Liabilities, Intangible Assets | $18.7亿2025-09-30 | $21.6亿 | -13.4% | $18.7亿 | $21.6亿 | -13.4% |
| Deferred Tax Liabilities, Net | $17.4亿2025-09-30 | $20.7亿 | -16.0% | $17.4亿 | $20.7亿 | -16.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-K 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-K 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01